Baker Hughes Bearish Moving Average Crossover Alert (BHI)

Written on Fri, 06/10/2016 - 10:50am

By James Quinn

Baker Hughes (NYSE:BHI) crossed under its 10-day moving average of $47.17 on a volume of 222K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Baker Hughes share prices have been bracketed by a low of $37.58 and a high of $70.45 and are now at $46.96, 25% above that low price. The 200-day and 50-day moving averages have moved 0.56% lower and 0.56% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Baker Hughes on April 18th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $44.27. Since that recommendation, shares of Baker Hughes have risen 7.4%. We continue to monitor BHI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.